Plains Group Holdings LP stock price up 0.95% on Wednesday
(Updated on Nov 29, 2023)
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The stock is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Plains Group Holdings LP stock with a 90% probability to be traded between $14.83 and $16.34 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
PAGP Signals & Forecast
There are mixed signals in the stock today. The Plains Group Holdings LP stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $15.94. On a fall, the stock will find some support from the short-term average at $15.88. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Thursday, November 02, 2023, and so far it has fallen -2.87%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.
Support, Risk & Stop-loss for Plains Group Holdings LP stock
Plains Group Holdings LP finds support from accumulated volume at $15.85 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0.235 between high and low, or 1.49%. For the last week the stock has had daily average volatility of 1.27%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (PAGP) For The Upcoming Trading Day Of Thursday 30th
For the upcoming trading day on Thursday, 30th we expect Plains Group Holdings LP to open at $15.92, and during the day (based on 14 day Average True Range), to move between $15.65 and $16.19, which gives a possible trading interval of +/-$0.275 (+/-1.73%) up or down from last closing price. If Plains Group Holdings LP takes out the full calculated possible swing range there will be an estimated 3.45% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $15.95 (0.19%) than the support at $15.85 (0.44%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Plains Group Holdings LP stock A Buy?
Plains Group Holdings LP holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -2.152 Open Broker AccountSell Candidate Unchanged
Predicted Opening Price for Plains Group Holdings LP of Thursday, November 30, 2023
The predicted opening price is based on yesterday's movements between high, low, and closing price.
|Fair opening price November 30, 2023||Current price|
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Fibonacci Support & Resistance Levels
Accumulated Volume Support & Resistance Levels
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